When I forgot my debit card the other day the guy behind the counter at the coffee shop told me they accept all forms of payment, even bitcoin. I wasn't sure if he was serious or not. I really don't know what bitcoin is. I ended up using Apple Pay.

When I forgot my debit card the other day the guy behind the counter at the coffee shop told me they accept all forms of payment, even bitcoin. I wasn't sure if he was serious or not. I really don't know what bitcoin is. I ended up using Apple Pay.

A lot of places take it these days, and you can buy pretty much anything online with it, but the wild swings in value must make it hard to price anything with. It seems like it needs the dollar or some other fiat money around to work.

_________________"anticipation of death is worse than death itself" - Steven Seagal, Hard to Kill

It might be more useful to define a blockchain first: Essentially a decentralized database that acts as an tamperproof ledger that eliminates the need for middlemen, brokers, government agencies, etc. Digital currencies use this technology, but one can see its uses in many areas.

Centralized intermediaries are susceptible to hacking, corruption, fraud, etc and require fees to fund them. A blockchain has none of these disadvantages.

Full disclosure: I am Satoshi Nakamoto.

_________________"anticipation of death is worse than death itself" - Steven Seagal, Hard to Kill

Last edited by BurtReynolds on Thu July 13, 2017 9:07 am, edited 1 time in total.